CHANGE OF REGISTERED OFFICE

Cornish Metals Inc.

05 February 2025

 

CHANGE OF REGISTERED OFFICE

Vancouver, February 05, 2025

Cornish Metals Inc. (AIM/TSX-V: CUSN) ("Cornish Metals" or the "Company"), a mineral exploration and development company focused on advancing its 100% owned and permitted South Crofty tin project in Cornwall, United Kingdom, announces that it has moved its registered office to 1056 - 409 Granville Street, Vancouver, British Columbia, V6C 1T2, Canada with effect from today's date.

For additional information please contact:

Cornish Metals	Fawzi Hanano Irene Dorsman	[e-mail] [e-mail]
		Tel: [phone]
SP Angel Corporate Finance LLP (Nominated Adviser & Joint Broker)	Richard Morrison Charlie Bouverat Grant Barker	Tel: [phone]
Cavendish Capital Markets Limited (Joint Broker)	Derrick Lee Neil McDonald	Tel: [phone]
Hannam & Partners (Financial Adviser)	Matthew Hasson Andrew Chubb Jay Ashfield	[e-mail] Tel: [phone]
BlytheRay (Financial PR)	Tim Blythe  Megan Ray	[e-mail] Tel: [phone]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

ABOUT CORNISH METALS

Cornish Metals is a dual-listed mineral exploration and development company (AIM and TSX-V: CUSN) that is advancing the South Crofty tin project towards production. South Crofty:

·    Is a historical, high-grade, underground tin mine located in Cornwall, United Kingdom and benefits from existing mine infrastructure including multiple shafts that can be used for future operations;

·    Is fully permitted to commence underground mining (valid to 2071), construct new processing facilities and for all necessary site infrastructure;

·    Has a 2024 Preliminary Economic Assessment that validates the Project's potential (see news release dated April 30, 2024 and the Technical Report entitled "South Crofty PEA"):

o  US$201 million after-tax NPV_8% and 29.8% IRR

o  3-year after-tax payback

o  4,700 tonnes average annual tin production in years two through six

o  Life of mine all-in sustaining cost of US$13,660 /tonne of payable tin

o  Total after-tax cash flow of US$626 million from start of production

·    Would be the only primary producer of tin in Europe or North America. Tin is a Critical Mineral as defined by the UK, American, and Canadian governments as it is used in almost all electronic devices and electrical infrastructure. Approximately two-thirds of the tin mined today comes from China, Myanmar and Indonesia;

·    Benefits from strong local community, regional and national government support with a growing team of skilled people, local to Cornwall, and could generate up to 320 direct jobs.

The 2024 Preliminary Economic Assessment for South Crofty is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorised as mineral reserves. There is no certainty that the 2024 Preliminary Economic Assessment will be realised. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

 

END